Obasanjo criticizes Tinubu’s spending and borrowing pattern…

Former President Olusegun Obasanjo has criticized the Tinubu administration’s spending and borrowing approach, warning that Nigeria’s growing debt could lead to a major economic crisis.

Speaking on _Advocate for Good Governance_, Obasanjo said the government was spending heavily without clear plans for reimbursement or improving the well-being of citizens. He argued that such spending was reckless at a time when the country is already facing financial pressures.

“It is dangerous for a government to continue spending recklessly while the country’s debt burden continues to increase,” he said. “Such actions could create further economic problems and place additional pressure on future generations who would ultimately bear the burden of repayment.”

Obasanjo said any government inheriting high debt should prioritize financial discipline and careful management of public funds over increased spending. He described the current spending pattern as similar to that of “a drunken sailor” and said it was wrong for an administration faced with huge debts to continue spending without restraint.

He urged tying loans to projects with clear development benefits and repayment plans.

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“When a country is severely indebted, the first duty of the leadership is to control expenditure and manage resources wisely. Public funds must be managed with discipline because waste at the top affects every citizen,” he said.

Obasanjo added that leadership requires wisdom and responsibility, especially during times of inflation and rising costs of living that are already taking a toll on families.

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